Announcement

Announcement

Announcement # 21-29

Date: September 20, 2021

Topic: Conforming High Balance Now Available in all states & counties up to

$625k

In anticipation of the Agency loan limit increase for 2022, PennyMac is supporting our broker

partners by offering conforming high balance loan amounts up to at least $625,000 in all states

and counties except New York state, effective with locks on or after Tuesday September 21,

2021.

Rest assured, counties with high cost limits for 2021 that are already greater than $625,000 are

not changing. PennyMac will also be increasing the conforming loan limit for 2-4 units.

2021 Loan Limit

2021 Loan Limit

2021 Loan Limit

2021 Loan Limit

1 Unit

2 Units

3 Units

4 units

$548,250

$702,000

$848,500

$1,054,500

PennyMac

Expanded Limit

1 Unit

PennyMac

Expanded Limit for

2 Units

PennyMac

Expanded Limit for

3 Units

PennyMac

Expanded Limit for

4 Units

$625,000*

$800,250*

$967,250*

$1,202,000*

*See attached spreadsheet for Alaska and Hawaii as PennyMac¡¯s newly expanded loan limits

are higher for these states.

Notes:

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DU and LPA will return an ineligible result. PennyMac will accept Approve/Ineligible

(DU) and Accept Ineligible (LPA) due only to the loan amount in excess of the 2021

limits.

A full appraisal is required for the expanded loan limits. Appraisal waivers are not

allowed with an ineligible decision. In areas where the PennyMac loan limits are within

the current 2021 high cost limits, appraisal waivers remain eligible.

PennyMac expanded loan limits will NOT be supported by pricing engines. Please price

your scenarios through POWER.

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Announcement

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Loans in excess of current 2021 county limits, and up to PennyMac expanded loan

amounts, will be eligible and priced as Conforming High Balance.

If you have a loan in process and would like to increase your loan amount, follow the

CIC process. Please consider the time and cost involved in obtaining an appraisal prior

to changing the loan amount for transactions with appraisal waivers.

For loan amount increases utilizing our new expanded loan limits, it is critical that you

reprice loans in POWER since these will receive high balance pricing that is not reflected

in pricing engines.

Please use the attached sheet to determine the maximum loan amount under PennyMac¡¯s

Expanded Loan Limits.

If you have any questions, please contact your sales representative.

Equal Housing Opportunity ? 2008-2018 PennyMac Loan Services, LLC, 3043 Townsgate Rd, Suite 200, Westlake Village, CA 91361,

(818) 224-7442. NMLS ID # 35953 (). Trade/service marks are the property of PennyMac Loan

Services, LLC and/or its subsidiaries or affiliates. Information is intended solely for mortgage bankers, mortgage brokers, and

financial institutions. Not intended for distribution to consumers, as defined by Section 1026.2 of Regulation Z. Arizona Mortgage

Banker License # 0911088. Licensed by the Department of Business Oversight under the California Residential Mortgage Lending

Act. Colorado: Regulated by the Division of Real Estate. Georgia Residential Mortgage Licensee #33027. Illinois Residential Mortgage

Licensee # MB.6760595. Massachusetts Mortgage Lender License # ML35953. Minnesota: This is not an offer to enter into an

agreement and an offer may only be made pursuant to Minn. Stat. ¡ì47.206 (3) & (4). Licensed by the N.J. Department of Banking

and Insurance. Rhode Island Lender License # 20092600LL. Washington Consumer Loan License # CL-35953. Commercial real estate

loans made or arranged pursuant to a California Financing Law license #60DBO-46246. For more information, please visit

. Loans not available in New York. Some products may not be available in

all states. Information, rates and pricing are subject to change without prior notice at the sole discretion of PennyMac Loan Services,

LLC. All loan programs subject to borrowers meeting appropriate underwriting conditions. This is not a commitment to lend. Other

restrictions apply. All rights reserved.

pg. 2

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